Coins & Money

Largest Gold Nugget From Alaska (Over $500K!) Goes to Auction

It’s big, it’s gold, and it’s not a coin. Heritage Auctions is bringing the largest gold nugget ever found in Alaska to auction. We all have that one family member that has tried their hand at gold prospecting. It’s a rugged and romantic notion in the wilderness and wide open country of Alaska. Barry Clay found the 294.1 troy ounce 20 pounds of gold in 1998 along the Swift Creek near the town of Ruby, Alaska. According to Heritage Auctions it’s the second largest gold nugget ever found in the Western Hemisphere behind the world famous “Boot of Cortez” originating from Mexico.

The estimate for the 294.1 ounce of gold is $700,000.00+… That’s not too shabby, and frankly it is hardly a premium for the nostalgia of it all considering its true value in raw ounces of gold. The final sale price after the buyer’s premium and the number of bids will be updated at the end of this report.

Heritage is offering a condition report upon request. The reserve amount is $500,000.00 and $615,000.00 after buyer’s premium added. The Buyer’s Premium per Lot is as follows: 25% on the first $300,000 (minimum $49), plus 20% of any amount between $300,000 and $3,000,000, plus 15% of any amount over $3,000,000 per lot.

Minerals:Golds, Alaska Centennial Gold Nugget. Swift Creek Mine. Ruby Mining District. Yukon-Koyukuk C...

Image courtesy of Heritage Auctions

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Many collectibles now cost thousands of dollars (or much more). Collectors with a passion to own a collectible for years frequently have to compete directly against investors whose only desire is to make a profit in the future.

Collectors and investors have the opportunity to bid and own one of the greatest conversation pieces on Earth. Gold is valued at $1,865.00 per ounce on November 18, 2021. The amount of gold alone is valued at $548,496.50. According to Heritage the man who found it was doing some placer mining and pushing dirt with a bulldozer, what a lucky day he had.

DECEMBER 2021 UPDATE: The $700,000 estimate commanded a final price of $750,000 on December 8, 2021 after the buyers premium, and surprisingly there were just 6 bids.